Hassan Maishera
The Pancakeswap team told its community via X (formerly Twitter) on Monday that it has burned 8,740,957 CAKE tokens (worth $25 million) this week. The decentralized exchange generated 124k CAKE ($350k) in trading fees for its V2 Swap and Perpetual market, up by 0% from the previous week. Pancakeswap also generated 93k CAKE ($262k) for V3, down by 27%. The Predictions and Lottery markets generated 34k CAKE ($96k) and 34k CAKE ($96k), respectively. The NFT marketplace generated 2.3k CAKE ($6k), up by 210% from last week.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is up by 5% today and is currently trading at $2.950.
